Management Strategy

NREV consistently applies best business real estate practices to every phase of real estate activity and every product line.  Similarly, NREV applies the principles of taking all necessary actions to protect the safety and well-being of its buyers and renters, and to stabilize and improve neighborhoods whenever it is economically feasible (and even sometimes when it is not the most profitable course of action). NREV also strives to find purchase and rental opportunities for low and moderate income households.

The management of both single and multifamily properties (and eventually other types of income producing properties) follows these precepts.

Consistent with the above principles, NREV understands that the most important objective of managing properties is to maintain and add value for itself and its investors. This objective is achieved by combining the best outside contractors with excellent in house oversight.  This reliance on outside contractors, with carefully constructed and overseen service agreements and oversight is the most efficient way for NREV to achieve the best management results.  Having over 100 years of experience in all phases of real estate, NREV’s Executive Committee has seen this leveraged practice produce much greater success than firms that become overwhelmed and inflexible by use of excessive in-house management staff.

National vendors, including outsourcers, are engaged for the purpose of performing management, leasing and preservation services in preparation for sale. Strong links with local government offices allow NREV to negotiate lower tax assessments, which, combined with work to reduce the existing liens on properties, increases resale values.

NREV has close relationships with some of the largest management and home supply companies in the United States. This increases the quality, and reduces the costs, of major repairs. NREV always “stages” houses for sale—requiring minor expenditures for such improvements as new carpeting, repainting and lawn mowing—all of which geometrically increase a property’s sale price.

In the commercial sector, property management is quite complex; hence, the extensive property management experience offered by NREV’s CEO, as well as by Mark Rosenfeld who served as CEO of a major national fashion department store chain, gives NREV a huge edge over its competition. For commercial properties, NREV employs income and expense controls that have been honed over decades and accounting /cash management systems to monitor the performance of every commercial asset, and provide excellent reporting to investors and lenders.